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Ideas for today and tomorrow
Cuba and Canada – Foreign Policies – November 26, 2016
• This presentation will look at Canada’s Foreign Policy as it relates to Cuba.
Presentation
• Caribbean GDP
• Cuba GDP
• End of the Castro Era
• Cuba FDI
• Cuba Human Rights Ranking
• Cuba Banking Sector
Agenda
• Cuba Banking Sector• Cuba banking sector currently is supported by the government.
Free-market reforms are required to position the banks for more commercial and residential loans
• Cuba• Needs massive money to fixed infrastructure and to improve
productivity for their state-run businesses
• Canada and Cuba• Canada and Cuba will required Trade and FIPA Agreements
Summary
GDP Growth
Source – RBC
Cuba GDP
Source - http://stat.kushnir.mk.ua/en/gdp/cu.html
• And this will be repeated again and again:• His greatest legacy is free healthcare and education, which have given
Cuba some of the region’s best human development statistics.
Amazingly, large parts of the world have both of those and all without killing anyone nor trying to impose socialism. As The Guardian itself notes in its very next sentence:
• But he is also responsible for the central planning blunders and stifling government controls that – along with the US embargo – have strangled the economy, leaving most Cubans scrabbling for decent food and desperate for better living standards.
End of the Castro Era
Source - http://www.forbes.com/sites/timworstall/2016/11/26/fidel-castros-economic-disaster-in-cuba/#28e238b1668e
• Port of Mariel: Over $1.5 billion to develop the Port of Mariel and strengthen its goal of becoming the logistics hub of the Caribbean.
• Agriculture: $740.14 million for comprehensive agro-industrial projects to increase food production; encourage sustainable development; and increase efficiency, quality and competitiveness in the different forms of production management. Cuba is seeking FDI for 76 projects, 36 more projects than last year.
• Industrial: $252.4 million to promote projects to modernize and create new capacities (e.g. to produce bottles and packaging, recycle raw materials), manufacturing electronic equipment and electrical appliances, chemical products and by-products, medical equipment, textiles, clothing and accessories, hygiene products, perfumes and cosmetics. Cuba seeks to cover their national demand, replace imports and increase exports.
• Renewable Energy: Cuba is seeking over $290 million in renewable energy projects with the goal to create, enlarge and modernize production capacities and to promote projects to generate energy from renewable sources.
• Oil & Gas: Cuba is seeking almost $2 billion for 6 projects to increase oil and gas production.
• Transportation: $119.3 million to modernize Cuba's transportation infrastructure. Specifically, Cuba plans to expand its port, roadway, and rail capacity and improve its system for repairs and technological updates of vessels and trains. This includes preparing port facilities to receive cruise ships and bringing its commercial aviation services up to international standards.
• Biotechnology and Drug Industry: $27 million to promote projects in Cuba with strategic partners to improve the manufacturing of finished products and active drug ingredients for generic medicines. Cuba is looking for partners to complement domestic projects by increasing joint R&D projects, as well as the creating or extending their own production capabilities.
• Health care: $50 million to develop exports of Cuban medical and health services.
• Construction: $110 million to access new technologies to improve efficiency in construction, increase production of materials AND spare parts, and to recover and complete general repairs for plants. Additionally, Cuba seeks to promote the building of infrastructure and industrial maintenance jobs, primarily for the nickel, oil and cement industries as well as for the designing and building of hotels for tourism and the real estate complexes associated with golf courses.
Cuba FDI
Source - http://www.engagecuba.org/press-releases/
Cuba and Human Rights
Source - http://hdr.undp.org/en/composite/HDI
• Today, BCC lists nine domestic banks, eight of them owned by the state. Moving about the capital, the only bank with any retail visibility is an occasional branch of Banco Metropolitano, largely created from the commercial side of Cuba’s old central bank, Banco Nacional de Cuba (BNC) in the 1990s and mostly serving Havana’s handful of diplomats and foreign firms. One of Metropolitano’s branches was once the majestic neoclassical head office of Canada’s Bank of Nova Scotia before the revolution, just three blocks from the central bank.
• The ninth bank with a local licence is also state-owned, but by Venezuela. Banco Industrial de Venezuela opened with immediate access to the local market in 2005 after a visit by the late Hugo Chavez, then Venezuelan president and Fidel’s fellow ideological traveller. But the BCC’s list of local banks needs updating. The Venezuelan bank was shuttered in Caracas earlier this year after a succession of corruption scandals and massive losses.
Cuba Banking Sector
Source - http://cubajournal.co/the-cuban-banking-sector-in-2016/ or http://ericellis.com/banks-at-the-heart-of-cubas-existential-battle-for-reform/
Canada and Cuba Trade
Source - http://www.canadainternational.gc.ca/ci-ci/assets/pdfs/fact_sheet-fiche_documentaire/Cuba-FS-en.pdf
